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Hesham Sallam's book, "Classless Politics: Islamist Movements, the Left, and Authoritarian Legacies in Egypt," explores the rise and fall of the Muslim Brotherhood (MB) in Egypt following the Arab uprisings of 2010-11. Sallam argues that the sidelining of class-informed politics and egalitarian redistribution of wealth can be attributed to the rise of identity politics and culture wars, which were empowered by the ruling elite. The book also examines the relationship between neoliberal economic policies and the rise of political Islam in Egypt, highlighting the legacies of previous regimes and the tactics of authoritarian "divide and rule" strategies. Sallam suggests that the dominance of Islamist currents in opposition politics and the marginalization of the left can be traced back to these legacies. However, it is important to note that the rise of Islamism in Egypt was not solely due to authoritarian incorporation policies, but also the failure of nationalist and socialist experiments and broader dynamics of identity politics. Overall, Sallam's thesis raises questions about the relationship between economic liberalism and identity politics, and the impact of globalization and liberal economic reforms on developing countries. [Extracted from the article]

The past three decades have seen the entry and increased influence of radical right parties into the European party landscape. These parties harness disaffection with the status quo by appealing to nativist or authoritarian tendencies in the electorate. Their policies often center around the protection of the "common man" from foreign or elite forces (particularly, cultural and economic globalization) and their emergence has been linked to decreasing support for globalization--the so-called "globalization backlash." Several authors note that although radical right parties advocate economic protectionism to attract voters, who are disaffected by globalization, they say little about how this is manifested in advocacy of concrete policy measures. This speaks to the need for more systematic study of the trade policies of radical right parties. This article studies the Swedish radical right party, the Sweden Democrats (ostensibly free traders), to advance an argument based on the core ideology of radical right parties, nativism, and populism. In doing so, the article contributes to the literature that stresses cultural rather than economic foundations for opposition to globalization. Moreover, this article widens the definition of protectionism from that germane to the literature on radical right parties to include non-tariff barriers to trade (in addition to tariffs and quotas), providing a more up-to-date and multifaceted account of the range of trade policy instruments that radical right parties may advocate. I find that populism inspires advocacy of liberal trade policies, while nativism inspires protectionist trade policies. Protectionism almost exclusively consists of non-tariff barriers. [ABSTRACT FROM AUTHOR]

In this study, we use a time-varying parameter vector autoregression (TVP-VAR) in conjunction with the extended joint connectedness approach to examine the influences of the economic globalization measured by foreign direct investment (FDI) as well as trade openness (TO), on renewable and non-renewable energy consumption, by characterizing the connectedness of these variables, from 1987 to 2020 in Vietnam. Our results demonstrate that abolishing the state monopoly in foreign trade influences the system-wide dynamic connectedness of trade openness, which peaked in 1989. Net total directional connectedness of FDI and energy consumption suggests that both the consumption of renewable and non-renewable energy consistently act as net contagion shock receivers, and FDI is a critical net transmitter the whole time. Trade openness behaves consistently as a critical net shock transmitter in 1989 but turned into an essential net receiver from 1990 to 2020. In a system with trade openness, the consumption of non-renewable energy consistently acts as a net contagion shock receiver, and renewable energy consumption is a critical net transmitter in the whole sample. Pairwise connectedness reveals that FDI consistently appears as a shock transmitter to renewable and non-renewable energy consumption. Trade openness could be either a transmitter or a receiver of shock from non-renewable energy, depending on the period, and is a net receiver of shocks from renewable energy consumption during our sample. The findings of this paper are critical for Vietnam's government to make a greater contribution to the expansion of global commerce and a sustainable environment. [ABSTRACT FROM AUTHOR]

It is well established that nighttime light brightness value, which is measured from satellites, correlates with economic prosperity across the globe. Researchers have diverged over whether economic factors cluster in coastal areas or move to interior areas. By using nighttime light data and applying the random forest algorithm to measure the proportion of global "near regions" GDP, it was seen that global GDP decreased from 67.25% in 2000 to 63.02% in 2018. This research reveals that under the continuous promotion of economic globalization, there is still a spatial imbalance of economic development between global "near regions" and "far regions"; however, economic factors are gradually shifting to interior areas and forming a "coastal remoteness" evolution pattern. Within the intercontinental range, there are obvious differences in the evolution patterns and spatial structure of economic development between the sub-regions. The reduction of overseas transportation costs and diseconomies of scale are the primary reasons for the evolution of "coastal remoteness" in global economic development. Our findings can facilitate future policymaking and the management of global coastal and interior areas, as well as establish new horizons for relevant research topics within the context of land and marine-coordinated development. [ABSTRACT FROM AUTHOR]

The betterment of environmental conditions is widely recognized as a significant priority for India, which is a critical aspect of the Sustainable Development Goals (SDGs). As an emerging economy, pursuing economic expansion is paramount, requiring significant amount of energy and a degree of openness to other nations. Meanwhile, the nation's energy demands are heavily met by the usage of biomass and coal energy sources. Furthermore, the nation is part of the top consumer of biomass and coal energy globally. However, over the last 50 years, the level of ecological footprint in India has surged by about 82%, despite the country's commitment to achieving environmental sustainability, which tends to raise concerns such as: What is the role of India's major energy sources, biomass, and coal energy, towards ecological sustainability? Does economic globalization promote and hinder India's environmental sustainability goals? As a result, this current study offers answers to these concerns by investigating the effect of economic globalization, coal energy, and biomass energy on the ecological footprint in India while controlling economic growth. Using the dynamic ARDL to analyze the dataset from 1970 to 2018, the result suggests that biomass energy and economic globalization improve ecological quality. However, economic growth and coal energy impede ecological quality in India. Furthermore, we adopted the time-varying causality test solely to understand the causality analysis, which established that economic globalization, biomass energy, economic growth, and coal energy could forecast the future direction of the ecological footprint. [ABSTRACT FROM AUTHOR]

Copyright of Wirtschafts- und Sozialwissenschaftliches Institut Mitteilungen is the property of Nomos Verlagsgesellschaft mbH & Co. KG and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Deglobalization and elevated inflation are important features of the current world economy. Will the reversing of globalization affect the level and formation mechanism of inflation in the countries (or regions)? This paper selects 163 sample economies and constructs an index system in measurement of globalization. On such basis, it integrates the index system into the hybrid Phillips curve under the condition of open economy to study the influence of globalization on inflation and the logical mechanism and to further evaluate the driving effect of deglobalization on global inflation. The result shows a deflation effect of globalization, and the effect decreases first and then grow as the globalization level of a country (or region) improves. To further investigate the formation mechanism of inflation, the paper decomposes inflation into inflation trend and inflation cycle. As far as inflation trend is concerned, trade globalization marked by participation in global value chain is the main driver of downward inflation trend in developed economies, while globalization of information and finance is the primary driver of downward trend in emerging and developing economies. As to inflation cycle, trade globalization makes inflation cycle of the countries (or regions) more sensitive to price of international commodities and forms a linkage through trade network. Since the outbreak of the major public health emergency in 2020, the reversing of globalization drove up inflation of the countries (or regions), and those with higher participation in global value chain have higher level of inflation. [ABSTRACT FROM AUTHOR]

It is uncontested that the unexpected rise of K-pop in the last decades has been no less than impressive. Korea has become the 7th largest music market in the world, and K-pop idol groups routinely are ranked on Billboard charts despite originating from a postcolonial country. However, there is dearth of scholarship theoretically and empirically to explain this phenomenon. This collection aimed to address this gap through investigating how and why the K-pop industry has achieved its present status. The eight articles included in the special issue deal with this question from various perspectives: the nature of the music itself, (gender) diversity in its fandom, and innovative strategies employed by the leading firms. Together, we believe that our collection paints a comprehensive picture of K-pop and its success, advancing our collective understanding of innovation management, cultural industries and the global pop music in general. [ABSTRACT FROM AUTHOR]

Since the open-up policy at the end of the 1970s, China – the largest single market in Asia – received growing attention from foreign investors and banks. However, the fragile domestic market and undeveloped financial system in China did not allow a rapid inflow of foreign banks, given that the foreign banks could exert suppression on the domestic banks. As a result, it took several years for most foreign banks to gain a foothold in mainland China. This article demonstrates how Commerzbank – one of the German Big Three – entered the Chinese market in the 1980s by establishing a branch in Hong Kong and opening a representative office in Beijing. On the basis of archival evidence and other contemporary sources, the case of China provides one slice of the history of Commerzbank's expansion and illustrates how it coped with the surge of internationalisation in the 1980s. [ABSTRACT FROM AUTHOR]

In connection with environmental degradation in Vietnam, known as an emerging economy, very limited studies have been implemented to demonstrate the environmental aspects of the country's core policies, as well as recent economic policies such as economic growth and globalization policies. Given this driving force, this paper uncovers a novel perspective on the causal associations between CO2 emissions, economic growth, and globalization in Vietnam using wavelet analysis. The empirical results provide evidence of the interconnections between the selected indicators through time and frequency. More accurately, the findings uncover that economic growth and globalization significantly increase carbon dioxide emissions in Vietnam in the medium and long run. These outcomes highlight the importance of policymakers properly coordinating policies to address Vietnam's severe environmental degradation. Furthermore, Vietnam should continue relevant policy reforms such as encouraging investment, allowing for effective governance and promoting human capital accumulation. [ABSTRACT FROM AUTHOR]

The dynamic development of society is inextricably linked with the need to determine one's place in the global space and to set strategic and programmatic goals that allow for the activation of structural transformations taking into account both the rights and responsibilities of a particular resident. A complex mixture of objective (globalization of the world economy, territorial economic and demographic disparities, dynamism of climatic space change and rise in the level of the world ocean) and subjective reasons (in particular, limitations in the use of one's own potential, the growth of internal aggressiveness and intolerance, a decrease in the level of tolerance) led to the formation of powerful migration flows that cross the continents of the planet Earth. The practice of various types of legal regulation of the migration flow of the population within the borders of Ukraine and beyond it determines the need for detailed consideration. The purpose of the article: on the basis of detailing the essence of migration and trends in the formation of the migration process, to highlight the specifics and possibilities of legal strategiology for the activation of state-building patriotism of the nation, based on the basic tasks of migration policy under martial law. It is substantiated for the first time that legal strategiology is a specific fundamental and applied field that identifies, investigates and synthesizes the components of the process of developing and implementing strategies in the field of law and legal activity. It is emphasized that the state migration policy is a complex system of program measures carried out under the legal and legislative auspices of the state regarding the management and regulation of migration processes. It is highlighted that the state creating patriotism of the nation (SCPN) is everything that the people in general and each citizen in particular do in the interests of creating an independent, sovereign, civilized state. It has been substantiated that with an open and balanced migration policy, when the state actively accepts foreigners and provides them with opportunities for successful integration, national unity and SCPN are strengthened. It is noted that in the conditions of martial law, the migration policy of the state should be directed to the legal aspects of ensuring the safety and well-being of its citizens, which, in turn, can influence their state-building motives, effectively encourage them to intensify their manifestation of traffic accidents. Application of programmatic approaches and measures, provision of timely support and protection to citizens are important for receiving civilized wages, increasing labor productivity and strengthening their patriotic feelings and the corresponding consequent desire to stay in their native state, effectively manifesting at the levels: statecommunity-citizens, migrants. It has been proven that the legal strategiology for the activation SCPN of traffic accidents in the conditions of martial law due to migration policy also has a tangible pragmatic component, as it allows to reduce the level of the shadow economy, which means that much more financial resources will fall into the state coffers, providing additional opportunities for strengthening defense capabilities and supporting the victims from hostilities. Yes, a change of only 1 % in the level of the shadow economy in Ukraine is an additional 5.5 billion UAH in revenues to the budget. [ABSTRACT FROM AUTHOR]

This paper investigates whether de facto and de jure conditions in trade, financial, and information globalization affect CO2 emissions in the West African sub-region using the Method of Moments Quantile Regression (MMQR) with fixed effects. The Stochastic Impact by Regression on Population, Affluence, and Technology (STIRPAT) framework is extended to incorporate renewable energy consumption and globalization for the period 1990-2018. The results highlight the significant environmental deterioration effects of income, population and energy intensity, and the mitigation effect of renewable energy consumption in the West African sub-region. Further evidence shows that: (i) de facto trade globalization increase CO2 emissions though insignificant, while de jure conditions mitigate CO2 emissions and have a strong significant impact across the conditional distribution; (ii) the benign environmental impact of financial globalization in the sub-region is driven by de jure conditions and the impact is significant across the entire distribution; (iii) information globalization reduces CO2 emissions with de jure conditions having the dominant effect. Overall, de jure conditions in trade, financial, and information globalization are essential for mitigating CO2 emissions in the sub-region. Hence, there is need to mainstream environmental issues into the institutional framework for climate change mitigation with emphasis on renewable alternatives. [ABSTRACT FROM AUTHOR]

Considering the importance of economic globalization in shaping Ghana’s economic growth trajectory, examining the relationship between these two variables is crucial for policymakers to develop strategies aimed at maximizing the benefits of economic globalization and minimizing the challenges associated with it. Therefore, this study investigates the long-run and short-run effects of economic globalization on economic growth of Ghana. The autoregressive distributed lag (ARDL) is employed for the analysis. This paper further employs the Phillips-Oliar’s residual-based cointegration test and the continuous wavelet coherence test to examine the causality between economic growth and its determinants. The results from the ARDL model suggest that economic globalization has not promoted economic growth. Specifically, a 1% increase in economic globalization reduces economic growth by 1.80% and 3.90% in the short- and long run periods respectively at a 1% significance level. The results further reveal capital, government expenditure and labour as key determinants of economic growth. The wavelet causality test reveals a one-way causality from economic growth to economic globalization. Based on the findings, policy suggestions have been highlighted for stakeholders’ consideration with the aim of enhancing economic growth of Ghana.

Even if the globalization of the economy has resulted in changes in environmental quality, environmental policy formulation still requires research that integrates the KOF Globalization Index and the load capacity factor Index into a single framework. From 1996 to 2020, the study examined the effect of economic globalization on the environmental integrity of Asian economies. Utilizing a load capacity factor index as a proxy for environmental quality and the KOF economic globalization index to measure economic globalization is distinctive to this study. Checking the independent and interactive effects of economic globalization and institutional quality on environmental quality is another innovative aspect of this study. This study modified the conventional environmental Kuznets curve based on economic globalization to derive the geometry of the environmental Kuznets curve based on economic globalization. The System generalized method of moment technique is used to determine the long-term relationship between economic globalization and environmental quality. The system GMM analysis demonstrates a positive correlation between the globalization of the economy and environmental performance. In addition, the results corroborate the inverted U-shaped relationship between economic globalization and environmental quality for the 48 Asian economies analyzed. In addition, the results confirmed the importance of institutional quality in mitigating the negative impact of globalization on environmental quality. Consideration is given to policy recommendations based on these findings.

This study attempts to assess the heterogeneous impact of economic globalization on fiscal performance in 77 countries over the period 1995–2017. We find that for high-income countries, trade globalization will increase their government expenditure, but financial globalization is conducive to increasing their revenue. For low-income countries, economic globalization will help to save their government expenditure, thereby improving their fiscal performance. For emerging countries, while economic globalization increases both government expenditure and revenue, the combined effect is not conducive to their good fiscal performance. [ABSTRACT FROM AUTHOR]

This research explores the role of green resource productivity, renewable energy, economic globalization, and economic growth towards advancing the pursuits of decarbonization in top energy transition economies. This study achieves this objective by adopting both asymmetric and symmetric econometric methods for the period between 1990 and 2021. This study adopted the Method of Moments Quantile Regression (MMQR) to uncover the asymmetric effect of the regressors on carbon emissions. The MMQR results suggest that in all quantiles, green resource productivity, renewable energy, and economic globalization mitigate CO2 emissions, while economic growth induces CO2 emissions. Additionally, for the robustness analysis, we disaggregated economic globalization into trade and financial globalization and investigated their roles towards achieving decarbonization. We uncovered that financial globalization mitigates CO2 emissions at all quantiles, but at the lower and middle quantiles, trade globalization mitigates CO2 emissions. Moreover, for the symmetric estimation, the following estimators: Fixed effect Ordinary Least Square, Fully Modified Ordinary Least Square, and Dynamic Ordinary Least Square estimators were employed in this study. Their outcome corroborated the findings of this MMQR. For the Granger causality inference, the outcome suggests that there is a bi-directional causality between renewable energy and CO2 emissions. Furthermore, we find a feedback causality association between financial globalization and CO2 emissions, and a one-way causal interconnection is detected from CO2 emissions to trade globalization. Moreover, we detected that there is a causal association flowing from economic globalization to CO2 emissions. Finally, an unidirectional causal interaction is detected from economic growth to CO2 emissions. Consequently, the research's findings provide applicable policy. [ABSTRACT FROM AUTHOR]

This article explores the concept of economic and financial globalization and its impact on banking liberalization. It discusses how globalization affects international relations in various dimensions and highlights the integration of local financial markets with the global economy. The article emphasizes the positive and negative effects of financial globalization on the banking system, including increased competition and the entry of non-banking institutions as competitors. It also discusses the challenges and advantages of banking liberalization, such as improved bank performance and the possibility of foreign banks dominating the market. The text concludes by emphasizing the importance of global economic developments in promoting banking liberalization. [Extracted from the article]

Globalization has been on the increase during the past 50 years, and there are now signs of a backlash. Part of the reason may be the widely held belief that globalization is harmful, not least for the cultural fabric. Is that the case? We investigate whether globalization has suppressed social trust , arguably one of the most beneficial characteristics of people in a society. By using a sample of first- and second-generation immigrants in 33 primarily European countries, we apply the epidemiological method to rule out reverse causality; and by using the KOF Index of Globalization, we study effects of economic, social and political globalization separately. We find that especially social globalization, and to some extent economic globalization, are positively related to social trust, with a small effect size, while political globalization is largely unrelated to it. Overall, this indicates that globalization does not pose a danger for social trust – at least not for people with a migration background. If anything, people seem to become slightly more trusting with more globalization. [ABSTRACT FROM AUTHOR]

The phenomenon of globalization, which refers to societies entering a process of integration in economic, political and cultural fields, has accelerated since the last quarter of the 20th century and left its mark on the social relations of the recent period. The carrier of globalization has been the neoliberal economic policies that have been disseminated across the world since the end of the bipolar world order. The neoliberal economic policy imposed on national economies by supranational organizations aims to remove obstacles to capital. Throughout most of the 20th century, the nation-state, which was the dominant force intervening in the economy, was seen as the most important obstacle on this path, while attempts were made to weaken the functions of the nation-state by transferring them to market forces. In order to legitimize these practices, discourses that globalization will bring freedom, peace and prosperity come into play in this process, while social reality tells a different story. Contrary to the promises of neoliberal globalization, inequalities, ecological risks, wars and economic crises have recently gained visibility. However, the Covid-19 pandemic, which emerged as a result of globalization, has revealed that globalization itself has entered a crisis. The Covid-19 pandemic has been a declaration of the failure of the global market and global organizations. The fight against the pandemic has been carried out with the resources of states instead of global alliances and private initiatives, and this process has enabled the return of nation-state power and effectiveness, which had been in decline for some time. In this context, this study aims to discuss the political and economic paradigm of globalization on the basis of recent developments. [ABSTRACT FROM AUTHOR]

Community wealth building (CWB) is a strategy for local economic development that aims to (re-)circulate wealth within the places that produce it – a kind of de-globalisation of capital. CWB has come to prominence in the UK due to its implementation in Preston and endorsements from the Corbyn-led Labour Party. However, CWB has come under criticism for promoting protectionism. As a way into the political economy of CWB, this article analyses this criticism. We do so by bringing the policy debate in the UK into dialogue with political economy literature on protectionism and nationalism. We show that protectionism is as much a political weapon or slur used to discredit interventionist development strategies as it is an analytical concept at home in technical economic discourse. On this basis, we argue that CWB is not protectionist neither in its policy proposal nor in its wider worldview. However, CWB does limit itself to the local without a clear redistributive mechanism between municipalities and so risks siloing local areas from one another. [ABSTRACT FROM AUTHOR]

In the context of climate change, economic globalization and rapid urbanization, the multi-hazard risk has become a major threat to human society. Risk assessment is the foundation of risk prevention. Based on an in-depth examination of literature, this paper summarizes the theories and methodologies for assessing multi-hazard risk in the past two decades. The compre‐ hensive risk assessment has two significant theory foundations: the conceptual models which in‐ dicate the combination way of multi-hazards and the risk frameworks which describe the risk ele‐ ments and their relationships as well as developing the assessment models. The key to multi-haz‐ ard risk assessment is the integration of single hazard risk, and the method for integration can be classified to two categories: integration of risk values and integration of hazard processes. It de‐ serves closer attention to investigate both the complex relationship between various disasters and risk elements as well as the complex impact of environmental changes on disaster risk. The sce‐ nario-based modeling and risk assessing method may be a better choice for meeting the demands of the current era. It is feasible to take the single hazard risk analysis as a starting point, the in‐ terrelationships between various hazards as traction, and the scenario analysis method as a pro‐ pellant to implement multi-hazards risk assessment. [ABSTRACT FROM AUTHOR]

Accelerating economic globalization is a major driver of the transfer of embodied pollutant emissions from trade. China and the United States are currently the largest importers and exporters of agricultural products, respectively, and are also major producers and consumers of these products. This paper aims to analyze and compare the patterns of embodied agricultural carbon emissions (ACE) in the two countries, which is crucial for understanding how trade influences the transfer of such emissions. In this study, we calculated the embodied ACE of China and the United States from the perspectives of production and consumption for the years 1970, 1980, 1990, 2000, 2010, and 2016 by establishing a multi-regional input–output (MRIO) model. Additionally, we employed the Logarithmic Mean Divisia Index (LMDI) decomposition method to analyze the driving factors behind the changes in embodied ACE over time. The findings indicated that the embodied ACE associated with imports and exports in China and the United States followed a pattern of increase and subsequent decrease during the period 1970–2016, with net imports escalating from −18.79 million tons and −3.62 million tons to 40.35 million tons and 51.22 million tons, respectively. This study identified two main factors contributing to the reduction in embodied ACE in both countries: the declining intensity of embodied ACE per unit of traded products and the diminishing proportion of the primary industry. The growth in GDP per capita, population expansion, and an increase in the proportion of agricultural products in international trade are predicted to promote an increase in embodied ACE imports and exports in both countries. This paper advocates for the reduction of embodied ACE through the continuous promotion of research and application of energy-saving and emission-reduction technologies, an optimized industrial structure, and the implementation of relevant energy-saving and emission-reduction policies. [ABSTRACT FROM AUTHOR]

Copyright of Journal of International Business Studies is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Globalization and economic volatility changed the dynamics of production chains, which required new organizational arrangements from companies, leading them to projectization. Additionally, project professionals are managing increasingly complex projects, which demand an extensive and specific set of competences. In this context, this paper aims to identify the competences of project professionals by project type. A systematic literature review was carried out using the Scopus and Web of Sciences academic databases. The research corpus consisted of 209 articles published between 1989 and 2022. As a result, this research identified 173 competences distributed in 14 different project types; some competences have a greater significance for a given project type. As a contribution, when dealing specifically with projects and competences, project professionals, companies, and educational institutions can learn about the fundamental competences by type of project, improve the processes of selection and diagnosis of the professional, adapt educational programs, or even establish plans for project professionals career. [ABSTRACT FROM AUTHOR]

This study examines the impacts of globalization and energy consumption on economic growth in 10 low‐income countries during the 1990–2017 period. It also determines the causal relationship between globalization and energy consumption. It disaggregates overall globalization into economic, social, and political dimensions, as well as disaggregates total energy consumption into renewable and non‐renewable energy. It employs the Fully Modified Ordinary Least Squares, Instrumental Variables approach, and Dumitrescu‐Hurlin Granger non‐causality technique to account for heterogeneity, endogeneity and cross‐sectional dependence. The results show that overall globalization has a positive impact on economic growth in low‐income countries. But when it disaggregates globalization into economic, social and political dimensions, the results reveal that social and political dimensions boost economic growth while economic dimension undermines economic growth. Moreover, the results show that energy consumption is a significant determinant of economic growth. But when it disaggregates energy consumption into renewable and non‐renewable energy, the results reveal that non‐renewable energy consumption has a positive impact on economic growth, while the impact of renewable energy consumption is tenuous. The results also show a unidirectional causality from globalization to energy consumption, suggesting that globalization enhances energy consumption. This study implies that overall globalization and total energy consumption are significant determinants of economic growth, Therefore, efforts to accelerate economic growth should incorporate both globalization and energy consumption in low‐income countries. However, low‐income countries should appraise the dimensions of globalization and energy consumption that are not growth‐enhancing with a view to making them drivers of economic growth. [ABSTRACT FROM AUTHOR]

This paper investigates the drivers of the market's reaction to share repurchase announcements in the UK and the related abnormality in stock performance. It uniquely captures the impact of globalisation in tandem with a variety of firm-level and macro-level determinants. We undertake multivariate OLS regression to test the determinants of the market's reaction and find a negative influence when repurchases are tax-friendlier than dividends if there is high debt exposure and economic globalisation is rising, with a positive influence when the company has a history of distributing above average dividends. To quantify the short-term price abnormality, we employ event study analysis, and the findings compute positive (insignificant) stock price abnormality for nonfinancial (financial) firms. For long-term stock price abnormality, we compare against the FTSE 100 by computing annual geometric stock performances. The findings indicate a negative (insignificant) stock price abnormality for nonfinancial (financial) firms. The results can aid corporate management in improving repurchase timing, aid in the decision making of financial practitioners when trading or investing in repurchasing firms, and assist policymakers in mapping more efficient fiscal and cross-market trade frameworks. [ABSTRACT FROM AUTHOR]

An increase in non-performing loans and bad debts in the banking sector can make banks vulnerable to a loss of confidence among customers and other banks and a banking collapse. The recent pandemic (COVID-19) and the evolving globalisation can affect bank operations, although the effects may depend on the type of banks and other bank-specific factors. In this paper, we revisit the topic on the determinants of non-performing loans of banks in a small island economy of Fiji over the period 2000 to 2022. We apply a fixed-effect method and consider seven banks (five commercial banks and two non-bank financial institutions). In our estimations, we examine the effect of bank-specific factors and control for the social and economic globalisation, the GFC, the COVID-19 pandemic, and bank-type effects, as well as the effect of the interaction between the bank type and the pandemic, as key contributions of the study. Overall, our results are consistent in terms of the effects noted from the bank-specific factors. From the extended model estimations, we note that COVID-19 had a more adverse effect on loan losses than the GFC, and the interaction between the bank type and COVID-19 indicates that non-banks were highly vulnerable to loan losses, whereas commercial banks exhibited greater preparedness. Economic globalisation reduces bank losses, whereas social globalisation exacerbates NPLs. [ABSTRACT FROM AUTHOR]

This paper examines the role of financial development in economic globalization using balanced panel data from 1984 to 2016. The empirical analysis considers Europe and Central Asia (ECA) and South Asia (SA) as the top and the bottom globalized emerging economies, respectively. Financial development promotes economic globalization in the top globalized developing regions in the long run. The growth in financial institutions also improves economic globalization in the ECA. The opposite finding is reported in the SA economies. The findings suggest that 'financial development-led economic globalization should not be overlooked by the policymakers of the top globalized developing regions. [ABSTRACT FROM AUTHOR]

This paper empirically examines whether globalization affects the level, volatility and structure of financial development as well as the competition and credit composition of the banking sector. Using dynamic panel estimation techniques, we find, in a sample of advanced and developing countries, that both trade and financial openness promote financial development, raise financial volatility, and result in a more market-based financial system, the effects that moderate with increased openness. It is also found that both trade and financial openness lead to a more competitive, less concentrated banking industry and a greater share of household credit relative to enterprise credit, the effects that dampen with increased openness. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine how market globalization orientation (i.e. a firm's strategic commitment to developing the target markets beyond national borders) influences business-to-business (B2B) practices to achieve competitive performance outcomes. Design/methodology/approach: A conceptual framework shows how to translate strategic orientation into integrated organizational practices for competitive outcomes. A research model defines key variables (drivers, B2B practices and performance outcomes). The research model is tested using an international survey of 439 firms from four continents. And the analysis results are reported. Findings: The results suggest that market globalization orientation influences organizational practices and external B2B network processes to achieve desirable performance outcomes. Integrated product development is a crucial linkage mechanism that enables firms to translate strategic network coordination and product innovation goals into improved manufacturing and firm performance. Research limitations/implications: First, macro-level factors (e.g. the changing attitudes of domestic stakeholders toward globalization) do not necessarily dictate the critical aspects of the micro-level responses (e.g. firm-level practices). Despite negative narratives of globalization at the macro-level (e.g. economic inequality, unwanted immigration that spreads transmissible diseases, supply chain disruptions), firm-level responses toward global markets are determined by their missional direction and strategic priorities for achieving competitive advantage by expanding their B2B supply chains and market frontiers (Adams et al., 2019; Kobrin, 2020; Witt, 2019; Zinn and Goldsby, 2020). Second, the findings suggest that many firms take globalization orientation as an essential strategic driver that governs critical operational and network practices for achieving desirable performance outcomes. Market globalization orientation motivates B2B firms of all sizes –including small and medium-sized enterprises (SMEs) – to pursue globalization in their unique paths of differentiation. Globalization orientation expands their spheres of influence beyond their local, regional and domestic fronts. The globalization orientation of business leadership motivates firms to stretch their business frontiers without self-imposed geographical constraints. Practical implications: Competitive firms choose market globalization orientation in their supply flow and implement strategic and operational practices to pursue global market opportunities. Globalization orientation is imperative to firms that seek new growth engines to achieve competitive performance that appeals to diverse market segments of the world. Social implications: Outstanding firms expand their value frontiers to secure a flexible supplier base and reach out to diverse B2B customers in their domestic and global market segments. This study also suggests that firms with a market globalization orientation aim to develop novelty products, offer essential services, support the livelihood goals of people and pursue a shared vision of a sustainable planet. Originality/value: In the context of conflicting societal attitudes and political priorities toward globalization, this study examines the crucial role of market globalization orientation. Using an empirical study, this paper suggests that globalization efforts succeed as firms deploy their internal and network resources to address people's essential and timeless needs beyond national boundaries. [ABSTRACT FROM AUTHOR]

Research Aims: This study examines the mediating effect of psychological empowerment on the relationship between transformational leadership and employee creativity in a financial organisation in Peninsular Malaysia. Design/Methodology/Approach: Quantitative methods were employed in this study. Two hundred questionnaires were distributed to employees of Islamic financial institutions in Malaysia. Of these, only 153 questionnaires were usable. Random sampling and partial least squares structural equation modelling (PLS-SEM) techniques were utilised in data analysis. Research Findings: The results of the analysis showed that psychological empowerment had an indirect effect on the impact of transformational leadership on employee creativity in the organisation under study. Theoretical Contribution/Originality: The result aligned with Spreitzer's (1995) concept of self-motivation through increasing self-esteem and modifying resilience, which promotes motivational behaviour in organisations. Managerial Implication in the South East Asian Context: Transformational leadership has been shown to be effective in addressing crises in organisational management. Leadership that applies this concept is able to sustain the organisation and its competitiveness over time, especially in Asia. Research Limitation & Implications: During the duration of this research, the data were collected only once. The sample for this study was obtained from a single organisation, and the only method used to collect data was a questionnaire. In times of globalisation and economic turmoil, practitioners can use the findings of this study to practice transformational leadership to sustain and support the vision and mission of an organisation. [ABSTRACT FROM AUTHOR]

In light of globalization and internationalization of financial markets, issues arising from financial crises have become increasingly serious and fundamental, creating a lot of debate among experts around the world. So, many studies have attempted to investigate what measures can be taken to detect and prevent crises before they devastate the economies. Therefore, this paper examines the Effectiveness of the Monetary Policy (MP) to Avoid, Reduce or Treat the Financial Crisis in Malaysia. Scholars have yet to agree on the issue concerning the appropriate monetary measures, particularly with respect to the question of whether or monetary policy is more effective tool in dealing with financial crisis. Majority of comprehensive theoretical frameworks are fragmented. Somehow, this framework has been tested in developed countries. Only very few studies were conducted in developing countries. The results of this research provide empirical support for the extended model. Moreover, this work has added to the understanding of Monetary Policy (MP) to Avoid, Reduce or Treat the Financial Crisis in Malaysia also with theories research. [ABSTRACT FROM AUTHOR]

Globalisation is a deep-rooted phenomenon that has significantly shaped developed and developing economies alike. Characterised by its controversial past, South Africa provides a unique case when considering how global integration has affected the country's economy. Among the more intriguing relationships has been the interlinkage between the country's public debt levels and the manner in which it has globalised. On one hand, advocates suggest that economic integration has enabled the government to provide greater social assistance in the hope of rectifying its controversial past. On the other hand, however, globalisation is believed to increase pressure on the fiscal budget with increased levels of debt needed to mitigate the pressure of external shocks. The primary objective of this study was to analyse the relationship between public debt and economic globalisation in South Africa. It followed a quantitative research approach using secondary time-series data from 1980 to 2020. Long-run relationships were evaluated through the use of a Bayer-Hanck combined cointegration test, while FMOLS, DOLS and CCR estimation techniques were employed to estimate elasticity relationships. The results corroborate the existence of a positive relationship between higher levels of economic globalisation and public debt. Moreover, the causality results revealed a unidirectional causal link between these variables emanating from the economic integration of the country. This implies significant consequences for fiscal policymakers towards balancing its role as a crucial macroeconomic role player. The findings in fact point to noteworthy implications surrounding the restricting effects of the integration process, pertaining to higher borrowing costs, increased external vulnerability and limited fiscal capability in the context of improving the country's social environment. [ABSTRACT FROM AUTHOR]

Research background: Over the decades, foreign-owned entities (FOEs) have become an important part of the economic landscape considered as behemoths of globalisation, but also transmitters of positive effects such as technology or know-how spillovers. In times of volatility and uncertainty, firms' contribution to building a resilient economy is at the top of the public agenda. Purpose of the article: The purpose of the article is two-fold. Firstly, we test, how FOEs perform in this stressful time of volatility and uncertainty. Secondly, we examine the contribution to resilience by digital and technologically intensive sectors. Methods: The study utilises the Bureau van Dijk (BvD) Orbis firm-level database as a primary data source. The results are derived with the use of two econometric approaches. Firstly, we estimate a static model utilising the ordinary squares estimator. Secondly, we re-estimate the equations using a two-step System GMM estimator. It introduces a lagged dependent variable into the model and implements a correction for endogeneity among covariates by including instruments (in levels and differences). Findings & value added: We use size, age, ownership, gearing, and intangibility as firms' financial performance determinants, together with the sector-, country- and time-fixed effects. FOEs compared to domestic ones generated a higher revenue growth rate. In times of crisis high-tech and digital firms are more resilient. However, ownership does not matter in this respect. We contribute to the discussion about functions performed by FOEs in crisis and turbulent times, in which resilience issues are on top of the agenda. Our research intends to bridge the gap between the performance of FOEs, micro-level analysis, and resilience. [ABSTRACT FROM AUTHOR]

In the context of globalization and urbanization, mobility has expanded the geographical scope of infectious diseases transmission, and the epidemic outbreak has posed big challenges to human health and economic and social steadiness. From a local scale, the natural and social diversity in each region makes it show differentiated characteristics of vulnerability and resilience when facing the epidemic. Therefore, this article focused on the types of infectious diseases which can be transferred by infected person, constructed a vulnerability evaluation index system based on the three dimensions, including exposure, sensitivity and adaptability, used entropy method to identify the spatial differentiated characteristics of vulnerability to infectious disease outbreaks in American counties, utilized various methods containing comprehensively clusters analysis, literature analysis and others to discuss the division of vulnerability types in America counties, and clarified the impact mechanism that affects the vulnerability of infectious disease outbreaks through analyzing the literature. The results are as follows: ①Overall, the vulnerability of infectious disease infection in American counties is mostly at a low or lower level, with relatively significant spatial differentiation characteristics. ② Summarize the mechanism of infectious disease outbreaks: The outbreak of infectious disease is driven by natural and anthropogenic disturbance factors, including genetic mutation, biological disasters, land use changes, globalization and the like. Exposure involves social connections at domestic and international scales. Sensitivity involves four aspects, individual risks, urban environment, economic security, and social proliferation. Adaptability involves three aspects, government emergency response, medical systems, and social security. ③Based on the score of the influencing factors of vulnerability of infectious disease outbreaks, American counties are divided into 10 regional types to analyze the driving mechanism of vulnerability. [ABSTRACT FROM AUTHOR]

This study explores the role of financial development in economic globalization for India and China by controlling economic growth, institutional quality, inflation, government investment, and real interest rate as crucial determinants. Using annual time series data from 1984 to 2018, the long-run estimates from ARDL model reveal that financial development, institutional quality, and government investment significantly drive economic globalization. We also find that the inflation rate offsets economic globalization in India but promotes it in China. Interestingly, while economic growth promotes economic globalization in India, it impedes in China. The varying effects of real interest rates on economic globalization are observed in both economies. These findings offer key macroeconomic policy. [ABSTRACT FROM AUTHOR]

The US has been waging an economic decoupling from China, in which national security concerns replace economic logic and loss-loss game replaces win-win gains from globalization. The decoupling is generating profound ramifications for the world as well as the US and China. The article explores the following questions: what drives the US government to implement the decoupling? what rationales for technology separation as the core of the decoupling? and what are possible outcomes of the decoupling in the short run and long run? It argues that (a) the decoupling was motivated mainly by national security and geopolitical concerns that China's rapid rise has come to be seen as the largest threat to the US hegemony; (b) the decoupling concentrates on high-tech industries because technology is critical for the US to maintain its global hegemony, and (c) it is highly uncertain for the US to achieve its policy goals and a complete decoupling could divide the world into two economic blocs that centered on them. [ABSTRACT FROM AUTHOR]

We investigate the relationship between economic globalization and CO2 emissions for the OECD economies from 1970 to 2015. We use three definitions of economic globalization: classic, reconstructed and revisited economic globalization. The relationship between economic globalization and CO2 emissions is established along with real GDP, population and foreign direct investment. We use the stochastic impact of regression on population, affluence, and technology (STRIPAT model) to explain the effects of technology and growth on economic globalization and CO2 emissions interlink. Econometric models such as Newey & West (Newey and West, International Economic Review 28:777–787, 1987) and Driscoll & Kraay (Driscoll and Kraay, Review of Economics and Statistics 80:549–560, 1998), Panel Correlated Standard Error and Feasible Generalized Least Squares are employed to explain our hypotheses. Our empirical estimates suggest that the growth effect and population are essential factors positively influencing environmental quality while technological effects improve environmental quality. We also employ Eberhardt (Eberhardt, The Stata Journal 12:61–71, 2012) Augmented Mean Group, Pesaran (Pesaran, Econometrica 74:967–1012, 2006) Common Correlated Effects Mean Group estimator and Kernel-based regularized least squares to explain the long-run relationship between variables. Our results are consistent with the earlier estimates. Technology improvement and economic globalization are essential factors in driving the environmental quality for the OECD economies. Hence, international and national policies must improve technological efforts and economic globalization. [ABSTRACT FROM AUTHOR]

This study examines the impact of human capital and globalization on carbon dioxide (CO2) emissions for a sample of 78 developing countries, from Asia, Africa, and Latin America and the Caribbean, over the period from 1990 to 2016. As opposed to the existing studies in the literature, this study considers three types of globalization namely economic, social, and political globalization. The econometric analysis involves the use of the two-stage least squares-generalized method of moment method to account for endogeneity issues. The findings, overall, indicate that human capital development decreases CO2 emissions in developing countries across all regions. In contrast, social globalization increases CO2 emissions in all developing countries. Moreover, the empirical results also reveal that political globalization boosts CO2 emissions in the Latin American and Caribbean region, but helps to curb CO2 emissions in Asia, Africa, and in overall panel. Additionally, economic globalization significantly reduces CO2 emissions in the Latin American and Caribbean region but increases CO2 emissions in Asia, Africa, and in overall panel countries. Furthermore, human capital and globalization (in all three forms) jointly boost CO2 emissions. Hence, in line with this major finding, we recommend that the globalization policies should also incorporate the human capital development agenda of the developing countries in order to comprehensively tackle the aggravation of CO2 emissions. [ABSTRACT FROM AUTHOR]

Economic globalization is a process of integrating the national economy into the global economic system carried out by TNC, WTO, IMF and World Bank actors. Economic globalization is the increasing economic integration and interdependence of national, regional and local economies throughout the world through the intensification of cross-border movement of goods, services, technology and capital. Globalization causes trade between countries to become freer. This is one of the greatest benefits for nation building. Domestic industries experience reduced trade barriers and have access to wider international markets. Economically, Indonesia depends on international trade, production and finance. Therefore, the Indonesian state is vulnerable to international pressure and globalization. Economic globalization has an impact on national economic laws which must appear as an integration mechanism that can harmonize various internal interests of the nation, national and international interests as well as between sectors of national life. Economically, there is pressure on increasingly competitive trade, multinationalization of production, integration of financial markets and the influx of global capital investment. In facing the impact of economic globalization, the strategy used is to play an active role in the negotiation process with globalization actors and create national economic laws, especially regarding foreign investment, which accommodate global value interests to be utilized for national economic development. . [ABSTRACT FROM AUTHOR]

This paper investigates the Tourism Led Growth (TLG) relationship, incorporating the law of economic returns and the Tourism Area Life Cycle (TALC) theory, along with economic complexity and globalization. To measure tourism accurately, principal components analysis is employed, integrating five tourism-specific variables for 127 countries spanning the period from 1995 to 2020. The empirical analysis utilizes advanced panel dynamic models that account for cross-sectional dependence, yielding robust evidence of a nonlinear TLG relationship. Our findings reveal an inverted U-shaped curve characterizing the TLG relationship in both the short and long run, highlighting distinct impacts of tourism specialization in each time frame. Specifically, higher levels of tourism specialization in the short run can lead to diminishing returns to scale in the long run. Furthermore, our analysis demonstrates that cultural globalization positively facilitates the TLG relationship, while economic complexity exerts a negative influence on the impact of tourism on economic growth. [ABSTRACT FROM AUTHOR]